Unit 8: Supply and Demand

If supply is high, what happens to the price?

• The price increases.
• The price remains the same.
• The price decreases.
• The price fluctuates wildly.

If there are few producers, what happens to the price?

• The price increases.
• The price fluctuates wildly.
• The price remains the same.
• The price decreases.

If supply is low, what happens to the price?

• The price remains the same.
• The price decreases.
• The price increases.
• The price fluctuates randomly.

If Supply is High, then Price is ______.

• Low

• High

• Moderate

• Unchanged

If there are FEW Producers, then Price is ______.

• High

• Low

• Moderate

• Unchanged

If supply is low, then price is ______.

• High

• Low

• Stable

• Moderate

If there are MANY producers, what happens to the price?

• High

• Low

• Unchanged

• Graph showing the amounts sellers will be willing and able to offer for sale at various alternative prices during some specified time period.

• Price elasticity
• Market equilibrium
• Supply graph

• Demand curve

How do changes in government taxes or subsidies impact real-world supply curves?

• They cause the supply curve to shift

• They have no effect on the supply curve

• They cause movements along the supply curve

• They solely affect the demand curve

• The amount of each good or service producers are willing and able to sell

• Supply
• Consumer Preference
• Market Price
• Demand